403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
EU Countries Freeze Over USD225B of Russian Central Bank Assets in Response to Ukraine Conflict
(MENAFN) In a significant development, an EU official confirmed on Thursday that European Union member states have collectively frozen assets worth over €200 billion ($215 billion) belonging to the Russian central bank. Christian Wigand, the spokesperson in charge of justice at the European Commission, revealed this information during a daily news briefing. This marks the first time that the EU has publicly disclosed the total value of the immobilized assets and reserves of the Russian central bank, following the implementation of the bloc's latest sanctions package, which mandates EU operators to report such information to the European Commission.
Wigand emphasized that EU officials are actively engaged in intensive efforts to explore legal avenues to leverage the immobilized assets of the Russian central bank. The EU remains resolute in its determination to hold Russia accountable for the damage it is inflicting upon Ukraine. One potential option being considered is to utilize the interest generated by the frozen assets to support Ukraine, providing financial assistance in light of the ongoing conflict.
The freezing of assets is part of a broader response by EU countries to the war in Ukraine. Currently, EU member states are preparing the 11th sanctions package aimed at reinforcing existing measures and preventing circumvention of sanctions imposed on Russia. This demonstrates the EU's commitment to taking robust action against Russia in response to its actions in Ukraine.
The freezing of such a substantial amount of assets underscores the severity of the EU's response to Russia's involvement in the conflict. By immobilizing these funds, the EU aims to exert economic pressure and send a strong message to Russia regarding its actions. These measures serve as a clear indication of the EU's determination to support Ukraine and hold Russia accountable for its actions, while also highlighting the EU's commitment to enforcing and strengthening existing sanctions.
Wigand emphasized that EU officials are actively engaged in intensive efforts to explore legal avenues to leverage the immobilized assets of the Russian central bank. The EU remains resolute in its determination to hold Russia accountable for the damage it is inflicting upon Ukraine. One potential option being considered is to utilize the interest generated by the frozen assets to support Ukraine, providing financial assistance in light of the ongoing conflict.
The freezing of assets is part of a broader response by EU countries to the war in Ukraine. Currently, EU member states are preparing the 11th sanctions package aimed at reinforcing existing measures and preventing circumvention of sanctions imposed on Russia. This demonstrates the EU's commitment to taking robust action against Russia in response to its actions in Ukraine.
The freezing of such a substantial amount of assets underscores the severity of the EU's response to Russia's involvement in the conflict. By immobilizing these funds, the EU aims to exert economic pressure and send a strong message to Russia regarding its actions. These measures serve as a clear indication of the EU's determination to support Ukraine and hold Russia accountable for its actions, while also highlighting the EU's commitment to enforcing and strengthening existing sanctions.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment